Morse Asset Management Inc Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Morse Asset Management Inc lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 70.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,149 shares of the financial services provider’s stock after selling 5,077 shares during the quarter. Morse Asset Management Inc’s holdings in JPMorgan Chase & Co. were worth $515,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $37,000. Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $43,000. Finally, Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $43,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $259.67 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $190.88 and a 12-month high of $280.25. The stock has a market cap of $721.66 billion, a P/E ratio of 13.15, a PEG ratio of 2.83 and a beta of 1.07. The company has a 50-day moving average price of $238.44 and a 200 day moving average price of $246.08. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the business earned $4.44 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JPM. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Bank of America decreased their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $215.00 to $220.00 in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $255.67.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director now directly owns 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,188 shares of company stock worth $33,095,363 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.